[Bearslide]

How many of you carry it? Why do you carry it? What does it cost? I'd like to hear from everyone and especially PA appraisers.

[Mike Garrett, RAA]

Since I have no employees....None. When I did have employees and an office it was part of my business insurance package and relatively inexpensive. Much depends on how your state classifies appraisers.

[dobie]

Originally Posted by Bearslide

How many of you carry it? Why do you carry it? What does it cost? I'd like to hear from everyone and especially PA appraisers.

I do have it but that's because the state of NJ requires it and the penalties for not having it are quite high. They do WC audits in NJ and they will nail you for it. The cost is relatively low. I want to say 75 cents per thousand of income but I could be wrong about that (I don't have the policy handy)

Incidentally if you pay any sub-contractors you need to cover them too or they need to produce their own policy. The insurance company will audit you every year to adjust the premium. Usually it's just a questionnaire audit but you do need to produce payroll data etc.

[Terrel L. Shields]

I refuse to carry it on myself, but I have had to in the past when required by a vendor....little did they know I was charging them $50 a day more than anyone else...that was in day work.

[Kevin A. Spellman]

It is a requirement here in MA; cost is based upon the gross income. I think I pay around $500-$700. I do know it is less than a grand.

[dobie]

One more thing. In NJ, at least, the premium cost is regulated so no matter where you get it it's the same.

[Mountain Man]

I don't carry it for myself either, but can't be too much since we don't climb on roofs and ladders like Home Inspectors or gutter cleaning folks.